10 MAY 2015: Pranab's russia visit strenghens Indo Russia ties

Ø  President Pranab Mukherjee met Russian President Vladimir Putin to discuss the full range of India-Russia ties. According to Mr. Jaishankar, the two Presidents discussed all the initiatives agreed to when President Putin visited Delhi in December, including ongoing talks on joint development of the Ka-226T helicopters as well as MoUs with ONGC for Sakhalin oilfields and Arctic explorations as well as GAIL for gas pipelines from Russia. President Putin and President Mukherjee agreed that current trade levels of about $10 billion must be raised to $30 billion and investment levels to $15 billion, and talked about developing the North-South trade route at the earliest. Russia celebrates Victory Day also called V-E day for the day Nazi forces were defeated in Europe, as opposed to the victory over Japanese forces in Asia that came some months later in 1945. Ironically the boycott by U.S. and European countries has turned this year’s event into a celebration with Russia’s Asian neighbours instead.

Ø  Railway Minister Suresh Prabhu has given a call to the nation to focus on innovation and work together to make India an economic power, as it is poised to become a $20 trillion economy in about 25 years from now.

Ø  Two of the schemes launched on Saturday — Pradhan Mantri Jeevan Jyoti Bima Yojana and Pradhan Mantri Suraksha Bima Yojana — are insurance schemes, while the Atal Bima Yojana would address old age income security needs.

Ø  India on Saturday successfully test-fired an advanced version of the BrahMos land-attack cruise missile from the Car Nicobar Islands.

Ø  The British High Commission will return the stolen George Cross Medal to the widow of an Indian soldier at a public ceremony scheduled for May 11 at Bhapral in Bilaspur district of Himachal Pradesh.

Ø  In critical observations pertaining to national security preparedness, the Comptroller and Auditor General (CAG) has said the Light Combat Aircraft (LCA) Mark-I Tejas being inducted into the Indian Air Force (IAF) has limited capability and does not meet the force’s operational requirements. In a second report, it pointed to the ammunition shortage in the Army’s war reserves. The two reports were tabled in Parliament.

Ø  The Prime Minister inaugurated a mega steel plant at village Dilmili in Dantewada and an extension of the 140-km Rowghat-Jagdalpur railway line (second phase).

Ø  The election of a Conservative government under David Cameron will mark a continuation rather than a fresh start in building ties with India, as both countries have already established a fairly strong relationship, especially on the economic front. In its party manifesto — the only one to have mentioned India — the Conservative Party promised to support India’s demand for a permanent Security Council seat. Mr. Cameron has demonstrated a personal commitment to building ties with India during his last tenure as Prime Minister. He reportedly said that New Delhi was the capital he had visited the most, next only to Brussels (the headquarters of the European Union). Of the three visits he made, the one in February 2013 was the occasion for the signing of a Joint Statement on the India-United Kingdom Summit — a comprehensive document of bilateral intent in the areas of trade and investment, scientific and educational collaboration, and diplomacy. Mr. Cameron even appointed a senior parliamentarian Priti Patel to take charge of Indian diaspora affairs. On top of the list of India-related priorities for Mr. Cameron will surely be finding a suitable date for Prime Minister Narendra Modi’s much delayed visit to the United Kingdom, which remains the only major Western country that Mr. Modi has not visited after becoming Prime Minister. The U.K. would like to increase its investments in India, which are currently of the order of $22 billion and growing (these are cumulative investments from 2000 to 2015). Bilateral trade has however stalled at the level of $ 15-16 billion. The U.K attracts more Indian investment than the rest of the EU put together. There are 800 Indian-owned businesses in the U.K. which together employ 110,000 people, with the Tatas emerging as the largest employer. In 2013-2014, according to figures provided by the U.K. Trade and Investment, India had 74 Foreign Direct Investments projects in the U.K. India will seek for a friendlier visa policy for students seeking to come to the U.K. for higher education, especially in respect of a relaxation in the post study work visa that will allow students to work in the U.K. for a year or two after graduation.

Ø  Apart from President Xi Jinping and President Pranab Mukherjee, prominent leaders attending Russia’s Victory Day celebrations included Kazakhstan President Nazarbayev and Egyptian President Abdel Fateh Al- Sisi. The commemoration event has also seen the emergence of the RIC (Russia-India-China) bloc at a time the West has not only shunned President Putin’s grand parade, but imposed major financial sanctions on Russia. These have led to a significant weakening of the Russian Rouble, and restrictions on banks and oil companies have crippled Russia’s key export industries. At this time, the presence of Chinese and Indian Presidents has been appreciated in Russia as a strong signal of solidarity. President Mukherjee’s meeting came a day after Mr. Xi met Mr. Putin and finalised infrastructure deals worth an approximate $6 billion. Russia and China signed 32 agreements and MoUs including high-speed rail projects and the construction of a pipeline for Russian gas major Gazprom. The visit also comes four days ahead of Prime Minister Narendra Modi’s big visit to China, where the two sides are expected to announce several trade and infrastructure measures. However Foreign Secretary S. Jaishankar said India’s presence in Moscow should not be read in a trilateral context.